AIIB Accountability Mechanism / Complaint Mechanism
Official document | 5 June 2017
Without their internal accountability mechanisms, international financial institutions (IFIs) like the AIIB are ‘above the law’ as it is not possible to challenge them in any court of law, on national or international level. Therefore internal accountability mechanisms provide the only, even if limited, opportunity for IFIs to be held accountable to the public, to taxpayers or to their shareholders. Accountability mechanisms can provide lessons learned for the institution and its shareholders on the adequacy of its policies and on the efficiency of its policy implementation tools.
Moreover, in countries where access to justice at national level is beyond reach for individuals and communities impacted by development finance, accessing remedy at the IFIs complaints mechanisms may be the only option. Therefore a strong problem solving function is crucial in ensuring that investments deliver on their development goals without harming communities.